KUALA LUMPUR: Eco World Development (S) Pte Ltd (“EWPL”), a wholly-owned subsidiary of Eco World Development Group Berhad (“EcoWorld”) has been confirmed as the winning bidder in a tender called by the Urban Redevelopment Authority (“URA”) of Singapore for a parcel of land at Lorong Puntong / Sin Ming Avenue measuring approximately 4,283.4 square metres (“Land”).

The Land was awarded by URA to EWPL for a 99-year lease term at a tender consideration of SGD208,099,000 (or approximately RM667.6 million). It is to be developed into residential condominiums or flats with a maximum permissible gross floor area (“GFA”) of 11,994 square metres.

“We are delighted to be able to make our debut as a property developer in Singapore at such a prime residential location. The site enjoys excellent connectivity via major roads and expressways and the Bright Hill MRT station, which will become an interchange station by 2030, is just a 3-minute walk away,” said Dato’ Seri Chang Khim Wah, President & CEO of EcoWorld.

He highlighted that there are ample shopping centres, lifestyle and recreational amenities within 2 km of the site. These include the Thomson Plaza and Junction 8 shopping malls, Singapore Island Country Club, MacRitchie Reservoir, Bishan-Ang Mo Kio Park and Windsor Nature Park. The Land is also situated directly opposite the highly sought-after Ai Tong Primary School, with other well-known institutions such as CHIJ St. Nicholas Girls’ School, Catholic High School, Raffles Institution, Eunoia Junior College and Ang Mo Kio Primary School located close by.

“This provides the Land with three significant advantages. It is served by a comprehensive network of road and rail infrastructure enabling easy access to the CBD, Orchard Road shopping belt and Marina Bay by public and private transport. Within a 2 km radius, there are ample parks, natural green reserves, lifestyle and recreational amenities. Combined with the presence of renowned educational institutions nearby, it ticks every box to appeal to the affluent upgrader market and multi-generational families,” Chang said.

“We are planning to launch the project in 2028 under our new VERSIONE series. This latest development concept by EcoWorld offers highly curated lifestyle apartments and experiences designed to meet the needs and aspirations of each specific customer group. Premised on the site’s strategic location, we aim to create a distinctive residential enclave that will bring the best the EcoWorld brand has to offer to serve the discerning and sophisticated Singaporean homebuyer,” he added.

Chang noted that EcoWorld is not new to Singapore – since 2015 the Group has established a marketing presence there and it has built up a small but highly experienced team that understands the market well.

“We believe this maiden project will be well received as Singaporeans are familiar with the EcoWorld brand. We have quite a few Singaporeans living at our various townships such as Eco Botanic and Eco Spring and a sizeable number of industrialists who have set up thriving businesses at our Eco Business Parks in Iskandar Malaysia. Singaporean patronage of the vibrant F&B and retail scene at our Eco Hubs has also increased markedly and is set to rise even further as cross-border ties and ease of commute between Johor and Singapore continue to improve,” he added.